● 卢业月 By Amy Low

The inter-bank market - where banks bor-row from or lend

to each other- is flushed with money at the moment, due to a

flood of for-eign funds and the continued fall in interest

rates.

This means that banks here have more mo-ney than they need

and are motivated to lend out such "idle money". Hence, the

low housing loan rates, for example. This contrasts with the

situation at the height of the Asian economic crisis when

there was a liquidity crunch, and interbank rates, which are

the rates at which banks borrow from or lend to each other,

hit as high as 12%.

Also, interest rates have fallen significantly over the

last few months, a phenomenon that would stimulate economic

growth as lower borrowing costs and savings rates will

en-courage businesses to invest and households to consume.

In such a low interest-rate environment, it may still be

good for investors to consider in-vesting some money in

bonds because they will be able to achieve a higher return

than cash deposits.

For example, in Singapore, current short-term fixed

deposit rates are now about 1%, compared with 3% for a

5-year Singapore go
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